News & Analysis as of

Qualified Retirement Plans 457(b) Plans

Verrill

Why Is There No IRS Correction Program for Non-Governmental 457(b) Plans?

Verrill on

This post examines excess deferrals under non-governmental 457(b) plans, including the approved method for correcting them and the penalty for failing to correct them, to make the case for a change in IRS policy on correcting...more

Pullman & Comley - Labor, Employment and...

Extended Time to Amend Tax Qualified Retirement Plans for SECURE 2.0 Act and other Legislation

On December 20, 2023, the Internal Revenue Service (IRS) issued Notice 2024-2 to “provide guidance on discreet issues” concerning the implementation of specific provisions of the SECURE 2.0 Act of 2022 (SECURE 2.0)....more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2024

On November 1, 2023, the Internal Revenue Service (IRS) released Notice 2023-75, which sets forth the 2024 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. The...more

Locke Lord LLP

IRS Announces 2024 Retirement Plan Limits: Modest Increases

Locke Lord LLP on

The Internal Revenue Service announced the 2024 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more

BCLP

IRS Releases 2024 Adjusted Qualified Plan Limitations

BCLP on

The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan and welfare plan limitations effective January 1, 2024. For ease of reference and comparison to prior years, we have placed the...more

Ogletree, Deakins, Nash, Smoak & Stewart,...

2024 Will See Modest COLAs for Qualified Retirement Plans

On November 1, 2023, the 2024 calendar year cost-of-living adjustments to the contribution and compensation limits for tax-qualified retirement plans were released by the Internal Revenue Service (IRS) in Notice 2023-75....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

IRS Provides Plan Amendment Deadline Relief

Earlier this year, the Internal Revenue Service (IRS) issued Notice 2022-23, which extended the deadline to make certain amendments pursuant to the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019,...more

Parker Poe Adams & Bernstein LLP

IRS Announces 2023 Dollar Limitations for Retirement Plans

​​​​​​​The IRS has announced the 2023 annual dollar limitations for retirement plans based on the applicable cost-of-living adjustment guidelines, with increases in many of the limits. The annual limit for elective deferrals...more

Miller Canfield

IRS Delays Additional Amendment Deadlines for Major Retirement Legislation

Miller Canfield on

The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more

Miller Canfield

IRS Delays Additional Amendment Deadlines for Major Retirement Legislation

Miller Canfield on

The IRS has extended additional deadlines for required retirement plan amendments, similar to the extensions we discussed last month found here. Notice 2022-45 extends the deadline for amending qualified retirement plans to...more

Eversheds Sutherland (US) LLP

The IRS CARES: Deadline extension for retirement plan amendments

​​​​​​​The IRS has extended the deadline for plan sponsors of qualified retirement plans and IRAs to make amendments under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Taxpayer Certainty and...more

Holland & Knight LLP

IRS Extends Deadlines to Adopt Plan Amendments for CARES Act, SECURE Act and More

Holland & Knight LLP on

The IRS on Aug. 3, 2022, issued Notice 2022-33, which extends the deadlines for qualified retirement plans, 403(b) plans and governmental retirement plans (including 457(b) plans) to adopt amendments reflecting certain...more

Eversheds Sutherland (US) LLP

Three cheers for three years: IRS extends deadlines for SECURE and CARES amendments

​​​​​​​The IRS has extended the deadline for adopting qualified retirement plan and IRA amendments to reflect changes made by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the Bipartisan...more

BCLP

IRS Releases 2022 Adjusted Qualified Plan Limitations

BCLP on

The Internal Revenue Service released the cost-of-living adjusted qualified retirement plan limitations effective January 1, 2022. For ease of reference and comparison to prior years, we have placed the adjusted limitations...more

Stinson - Benefits Notes Blog

Annual Limits on Qualified Plans for 2022

On November 4, 2021, the Internal Revenue Service (IRS) released Notice 2021-61, which sets forth the 2022 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans.  The...more

Pullman & Comley, LLC

IRS Announces Cost of Living Adjustment (COLA) Limits for 2020 Applicable to Retirement Plans

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2020. Many...more

Ary Rosenbaum - The Rosenbaum Law Firm P.C.

2020 Limits Announced

As I’m sure you heard, the Internal Revenue Service released their 2020 Cost of Limit Adjustment limits for qualified plans and individual retirement accounts. The salary deferral limit for participants in 401(k), 403(b),...more

Husch Blackwell LLP

Planning For 2020: Year-End Deadlines And Considerations For Employee Retirement, Health And Welfare Plans

Husch Blackwell LLP on

As the end of the year approaches, employers should be aware of important year-end deadlines and considerations related to their retirement and health and welfare plans. We have compiled a list of these deadlines and provide...more

Clark Hill PLC

2019 Benefits Limits and Recent Changes to 401(k) and Other Qualified Retirement Plans

Clark Hill PLC on

The Tax Cuts and Jobs Act of 2017 (“TCJA”), the Bipartisan Budget Act of 2018, and recently proposed IRS regulations have made significant changes to the rules governing 401(k) and other qualified retirement plans....more

Pullman & Comley, LLC

IRS Announces Cost of Living Adjustment (COLA) Limits for 2019 Applicable to Retirement Plans

Pullman & Comley, LLC on

The Internal Revenue Service and the Social Security Administration have announced the cost of living adjustments (COLA) applicable to dollar limitations for retirement plans and the Social Security wage base for 2019. ...more

Snell & Wilmer

2018 End of Year Plan Sponsor “To Do” List (Part 2) - Annual Cost of Living Adjustments

Snell & Wilmer on

As 2018 comes to an end, we are happy to present our traditional End of Year Plan Sponsor “To Do” Lists. This year, we are publishing our “To Do” Lists in four separate Employee Benefits Updates. Part 1 covered year-end...more

Snell & Wilmer

Making Limits Greater Again – IRS Issues Guidance on Cost of Living Adjustments

Snell & Wilmer on

The IRS recently announced cost-of-living adjustments for 2019 in Notice 2018-83 and related guidance.  The key dollar limits for qualified retirement plans and health and welfare plans are noted below....more

Stinson LLP

IRS Annual Limits on Qualified Plans for 2019

Stinson LLP on

The Internal Revenue Service (IRS) has released the 2019 cost-of-living adjustments affecting dollar limits on benefits and contributions for qualified retirement plans. ...more

Locke Lord LLP

IRS Announces 2019 Retirement Plan Limitations – Certain Limits are Increased

Locke Lord LLP on

The Internal Revenue Service announced the 2019 cost-of-living adjustments to the dollar limitations for qualified retirement plans and other benefits, and the Social Security Administration announced its own cost-of-living...more

King & Spalding

Compensation and Benefits Insights - September 2018

King & Spalding on

The IRS recently updated its two model safe harbor explanations that can be used to satisfy the requirement under Section 402(f) to provide notices setting forth certain information to participants who are eligible for...more

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